Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. raised its holdings in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI) by 300.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,961 shares of the bank’s stock after purchasing an additional 2,971 shares during the period. Meeder Asset Management Inc.’s holdings in Texas Capital Bancshares were worth $310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its position in Texas Capital Bancshares by 10.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,547 shares of the bank’s stock valued at $512,000 after buying an additional 613 shares in the last quarter. Norges Bank acquired a new position in shares of Texas Capital Bancshares during the fourth quarter valued at about $42,050,000. JPMorgan Chase & Co. raised its position in shares of Texas Capital Bancshares by 75.5% in the 4th quarter. JPMorgan Chase & Co. now owns 317,292 shares of the bank’s stock valued at $24,812,000 after purchasing an additional 136,507 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in Texas Capital Bancshares by 4.9% in the 4th quarter. Segall Bryant & Hamill LLC now owns 490,018 shares of the bank’s stock worth $38,319,000 after purchasing an additional 23,017 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Texas Capital Bancshares by 104.5% during the 4th quarter. Prudential Financial Inc. now owns 155,135 shares of the bank’s stock worth $12,132,000 after purchasing an additional 79,290 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Activity at Texas Capital Bancshares

In other news, Director Robert W. Stallings acquired 5,670 shares of Texas Capital Bancshares stock in a transaction that occurred on Friday, January 24th. The stock was purchased at an average cost of $27.60 per share, with a total value of $156,492.00. Following the purchase, the director now owns 180,893 shares in the company, valued at $4,992,646.80. This trade represents a 3.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have purchased 29,402 shares of company stock valued at $653,787. 1.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TCBI has been the topic of several research analyst reports. Stephens dropped their price target on Texas Capital Bancshares from $102.00 to $97.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $95.00 price target (down previously from $100.00) on shares of Texas Capital Bancshares in a report on Wednesday, January 29th. Hovde Group decreased their price objective on shares of Texas Capital Bancshares from $90.00 to $84.00 and set a “market perform” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on shares of Texas Capital Bancshares from $81.00 to $80.00 and set an “underweight” rating for the company in a research report on Friday, January 24th. Finally, DA Davidson cut their price target on Texas Capital Bancshares from $90.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.47.

Texas Capital Bancshares Trading Up 1.2 %

Shares of NASDAQ:TCBI opened at $74.70 on Tuesday. The business’s 50 day moving average price is $77.94 and its 200-day moving average price is $78.80. Texas Capital Bancshares, Inc. has a 1 year low of $54.68 and a 1 year high of $91.80. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 58.36, a price-to-earnings-growth ratio of 0.75 and a beta of 1.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00.

Texas Capital Bancshares (NASDAQ:TCBI) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.36. Texas Capital Bancshares had a net margin of 3.99% and a return on equity of 9.14%. On average, equities research analysts forecast that Texas Capital Bancshares, Inc. will post 5.84 earnings per share for the current fiscal year.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.